Tax planning strategies for Business Traditionally, year-end tax planning for small businesses is based around two simple concepts – i.e., accelerating business deductions and deferring income. However, Small Business Entities ('SBEs') have greater access to year-end tax planning due to particular concessions that only apply to them. The basic requirement to be eligible for the SBE concessions is that the business taxpayer's annual turnover (including that of some related en

WORK-RELATED CLAIMS BY INDIVIDUALS The following outlines common types of deductible expenses claimed by individual taxpayers, such as employees and rental property owners, plus some strategies that can be adopted to increase deductions for the 2017/18 income year. 1. Depreciable plant, etc. costing $300 or less Salary and wage earners and rental property owners will generally be entitled to an immediate deduction if certain income-producing assets costing $300 or less are pu